Kilo Goldmines Ltd.
TSX VENTURE : KGL
FRANKFURT : 02K

Kilo Goldmines Ltd.

February 01, 2011 08:00 ET

Kilo Drilling Intersects 2.60 g/t Gold Over 136.80 Metres From Surface on the Adumbi Prospect, Somituri Project, DRC

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce results from the remainder of diamond drill hole sixteen and all of diamond drill hole nineteen on the Company's Adumbi Prospect of the Somituri Project in north-eastern Democratic Republic of Congo ("DRC"). 

Somituri - Adumbi Prospect Drilling

Diamond drill-hole SADD0016 was collared on a magnetic azimuth of 220 degrees at an inclination of -57 degrees and drilled to 157.70 metres on drill section 19835E to intersect the mineralized gold bearing structure intersected in drill hole SADD0004 on drill section 19850E (see July 9, 2010 press release) close to surface. Diamond drill-hole SADD0019 was collared on a magnetic azimuth of 220 degrees at an inclination of -50 degrees and drilled to 294.40 metres to further confirm vertical continuity of the mineralized gold bearing structure. The gold intersections are summarized in the table below.

Adumbi Prospect Drill Section 19835E
         
Drill Hole From (m) To (m) Interval (m) Gold g/t
         
SADD0016* 0.00 136.80 136.80 2.60
  includes 30.30 43.30 13.00 5.48
  and 98.10 120.10 22.00 7.19
  151.00 152.40 1.40 1.82
         
SADD0019 66.40 69.40 3.00 1.81
  87.30 97.70 10.40 1.46
  174.00 218.40 44.40 1.04
  232.70 256.92 24.22 2.05
         
The true widths for the gold zones intersected in drill hole SADD0016 are approximately 73% and in drill hole SADD0019 approximately 78% of the drill hole intersection length.
 
* (partial results reported November 23, 2010)

The diamond drill holes on Section 19835E intersected from northwest to southeast the hanging wall tuffaceous metasedimentary rocks, followed by the chemical metasedimentary rocks predominantly characterized by intervals of chert, chert banded with haematite (oxide zone) and magnetite (sulphide zone) iron formation ("BIF"), as well as minor intervals of chert banded with black shale and several narrow intervals of black shale; quartz veins occur throughout the chemical metasedimentary rocks. Some of these drill holes ended in the footwall tuffaceous metasedimentary rocks and greywacke, whereas others terminated within the mineralized zone due to drilling difficulties. 

"The gold intersections in the drill holes on Section 19835E confirms excellent vertical continuation over at least 300 metres with impressive true widths in the order of 80 metres, and particularly encouraging are the gold grades in the 150 vertical metres of the oxide zone" stated Peter Hooper, Executive Chairman of Kilo.

2011 Exploration on the Somituri Project

Company geologists arrived back on site in mid-January and field work consisting of trenching, mapping and soil sampling is in progress. Samples of drill core for metallurgical test work and petrographic studies are being collected. Subject to financing, the Company plans to resume diamond drilling in late Q1-2011. Currently, the exploration camp supporting the Adumbi, Kitenge and Manzako Prospects is road accessible.

In addition, reconnaissance geological evaluation of another one of the eight Somituri Project Exploitation Licences ("PE") has commenced. The PE is host to numerous artisanal gold exploitation sites. 

In 2010 the Company explored a 2,058 metre strike length of the Adumbi Prospect with 31 diamond drill holes on 17 section lines, 13 trenches and the sampling of 4 adits. Records from the colonial era, unverified by the Company, indicate that during the 1940s until its closure in 1958 the combined production from the Adumbi and Bagbaie mines totaled about 200,000 ounces of gold; the gold exploited from the Adumbi mine was hosted in quartz vein ore that reportedly averaged 11 g/t gold. 

In addition, five diamond drill holes explored a 960 metre strike length of the past producing Kitenge gold mine, three drill holes tested a 1,360 metre strike length of the former Manzako gold mine and one drill hole targeted the Monde Arabe artisanal workings, which may be the northwest strike extension of the Kitenge gold bearing structure. According to historical records, unverified by the Company, the Kitenge and Manzako mines produced about 100,000 ounces of gold prior to about 1942. 

QC and Analytical Procedures

Quality control of analytical results is monitored by the company with the insertion of commercial standards and blanks in every batch of samples submitted for analysis. For additional details the reader is referred to Kilo's previously announced (see May 4, 2010 press release) quality control and analytical procedures.

About Kilo

Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company has over 16,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo. Kilo's principal focus is to advance its projects from exploration through feasibility to project development and ultimately to full production in a socially and environmentally responsible manner. The Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits.

Qualified Person

The drilling program disclosed in this press release was planned and supervised by the Company's geological consultant Stanley Robinson. Stanley Robinson, M.Sc., P.Geo is also the 'qualified person' (as that term is defined under National Instrument 43-101) of the Company who has reviewed the scientific and technical information contained in this release.

Upcoming Events

Kilo will be attending the Mining Indaba 2011 Conference in Cape Town, South Africa from February 7 to 10 (booth #101) and PDAC 2011 Conference in Toronto, Canada from March 6 to 9 (booth #2833). Kilo's management team will be available to meet with investors at both events.

This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information